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15 U.S.C. § 9098Taxpayer protection

submitted 6 years ago by Pub. L. 116-260 to r/title-15-COMMERCE-AND-TRADE · 201 words · no verdicts yet

in plain englishAI-generated · not legal advice

A translation hasn’t been published for this section yet. The official text below is complete and authoritative.

the actual law source: uscode.house.gov ↗public domain
(a) CARES Act assistance recipients

With respect to a recipient of financial assistance under section 4113 of the CARES Act (15 U.S.C. 9073) that receives financial assistance under this part, the Secretary may receive warrants, options, preferred stock, debt securities, notes, or other financial instruments issued by such recipient that are, to the maximum extent practicable, in the same form and amount, and under the same terms and conditions, as agreed to by the Secretary and such recipient to provide appropriate compensation to the Federal Government for the provision of the financial assistance under this part.

(b) Other applicants

With respect to a recipient of financial assistance under this part that did not receive financial assistance under section 4113 of the CARES Act (15 U.S.C. 9073), the Secretary may receive warrants, options, preferred stock, debt securities, notes, or other financial instruments issued by such recipient in a form and amount that are, to the maximum extent practicable, under the same terms and conditions as agreed to by the Secretary and similarly situated recipients of financial assistance under such section to provide appropriate compensation to the Federal Government for the provision of the financial assistance under this part.

Source credit: (Pub. L. 116–260, div. N, title IV, § 408, Dec. 27, 2020, 134 Stat. 2059.)

history & why it existsrecord from the source credit
  • 2020Enacted · Pub. L. 116-260 · 134 Stat. 2059

A history note hasn’t been published yet. The record shows enactment by Pub. L. 116-260 on 2020-12-27.

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